UAW presses Detroit automakers for better offer, threatens more walkouts
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GM 'moderating the acceleration of EV production', some EVs will be delayed says CEO Barra
October 24, 2023 9:19 AM EDTShares of General Motors (NYSE: GM) moved up nearly 1.30% before sinking 1.44% into the red in pre-market trading after the Detroit automaker reported its 3Q earnings results Tuesday morning, while in the midst of ongoing labor strikes by the United Auto Workers union.
The automaker reported a top line beat with adjusted earnings coming in at $2.28 versus the streets $1.88 estimate, while revenue came in at $44.1B, ahead of the consensus estimate of $42.62B.
"In the U.S., our strong sales, healthy ATPs (average... More
General Motors (GM) metal workers go on strike in Brazil
October 23, 2023 11:06 AM EDTWorkers in the metal industry at General Motors' (NYSE: GM) Brazilian facilities have made the decision to commence a strike beginning next Monday. Their decision to strike stems from their objection to the recent workforce reductions implemented by the U.S.-based automaker in the region.
According to reports from the... More
GM matches Ford's (F) wage offer to UAW in bid to end strike
October 20, 2023 2:22 PM EDTGeneral Motors (NYSE: GM), on Friday, increased its proposal to the striking auto workers, matching Fords (NYSE: F) suggested 23% wage increase and additional benefits enhancements, hours before union leader Shawn Fain was set to address the ongoing negotiations.
"We have made... More
